LONDON: World stocks struggled and safe haven bets were back in play on Friday with German bond yields plumbing record lows as Chinese data rekindled woes about the health of the global economy and fears of a new U.S.-Iran confrontation intensified.Data from Beijing painted a fairly gloomy picture of the world's second largest economy as the trade war with the United States starts to bite. May industrial output growth slowed to a more than 17-year low, well below expectations, while fixed-asset investment also fell short of forecasts.Expectations for more stimulus in China are growing as the Sino-U.S. trade dispute threatens to escalate into a full-blown trade war that many fear could push the global economy into recession.The data saw yields on German 10-year Bunds - seen as one of the safest assets in the world - fall to fresh record lows. U.S. Treasury yields were also grinding lower. Safe-haven bond yields have already fallen in recent days amid rising speculation about monetary … [Read more...] about China data, Gulf tensions see bond yields slip, stocks suffer
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Oil prices surge after suspected attacks on tankers
LONDON: World oil prices surged on Thursday (Jun 13) on reports that two tankers had been attacked in the Gulf of Oman, worsening frayed tensions in the crude-rich Middle East region, analysts said.The surge in oil prices boosted share prices of energy companies, while global stock markets also won some support from the prospect of US interest rate cuts this year.Rising hopes of a rate cut has helped to offset lingering tensions over the long-running trade war between Washington and Beijing.Thursday's suspected tanker attacks, a second incident involving shipping in the strategic sea lane within just weeks, sent London's Brent North Sea oil rebounding more than four per cent in morning deals before trimming gains.The Gulf of Oman lies at the other end of the strategic Strait of Hormuz from the Gulf, part of a vital shipping lane through which at least 15 million barrels of crude oil and hundreds of millions of dollars of non-oil imports pass each day.'TENSION IS HIGH'"Tension … [Read more...] about Oil prices surge after suspected attacks on tankers
FIFA drops plans for 48-team 2022 World Cup
The 2022 tournament in the Gulf state will now be played with 32 nations taking part. FIFA said it had abandoned the expansion plans "following a thorough and comprehensive consultation process" which led to the conclusion that "under the current circumstances such a proposal could not be made now". "(The tournament) will therefore remain as originally planned with 32 teams and no proposal will be submitted at the next FIFA Congress on 5 June," FIFA said in a statement. The expansion was a pet project of Infantino, who pushed the idea despite the likely need for Qatar's neighbours to put aside a two-year blockade and help to host an expanded tournament. "The involvement of these countries in the organisation of the tournament jointly with Qatar implies the lifting of this blockade, in particular the lifting of restrictions on the movement of people and goods," said a feasibility study submitted to March's FIFA Congress in Miami. The study, seen by AFP, also claimed that a … [Read more...] about FIFA drops plans for 48-team 2022 World Cup
Football: FIFA drops plan for 48-team World Cup in 2022
LAUSANNE, Switzerland (AFP) - FIFA president Gianni Infantino was dealt a blow on Wednesday (May 22) when world football's governing body shelved a proposed expansion of the 2022 World Cup in Qatar to 48 teams. FIFA dumped the plans "following a thorough and comprehensive consultation process" which led to the conclusion that "under the current circumstances such a proposal could not be made now". "(The tournament) will therefore remain as originally planned with 32 teams and no proposal will be submitted at the next FIFA Congress on 5 June," FIFA said in a statement. The expansion was a pet project of Infantino, who pushed the idea despite the likely need for Qatar's neighbours to put aside a two-year blockade and help host the tournament. "The involvement of these countries in the organisation of the tournament jointly with Qatar implies the lifting of this blockade, in particular the lifting of restrictions on the movement of people and goods," said a feasibility study submitted to … [Read more...] about Football: FIFA drops plan for 48-team World Cup in 2022
FIFA drops plan for 48-team World Cup in 2022
LAUSANNE, Switzerland (AFP) - FIFA president Gianni Infantino was dealt a blow on Wednesday (May 22) when world football's governing body shelved a proposed expansion of the 2022 World Cup in Qatar to 48 teams. FIFA dumped the plans "following a thorough and comprehensive consultation process" which led to the conclusion that "under the current circumstances such a proposal could not be made now". "(The tournament) will therefore remain as originally planned with 32 teams and no proposal will be submitted at the next FIFA Congress on 5 June," FIFA said in a statement. The expansion was a pet project of Infantino, who pushed the idea despite the likely need for Qatar's neighbours to put aside a two-year blockade and help host the tournament. "The involvement of these countries in the organisation of the tournament jointly with Qatar implies the lifting of this blockade, in particular the lifting of restrictions on the movement of people and goods," said a feasibility study submitted to … [Read more...] about FIFA drops plan for 48-team World Cup in 2022